We can now see the outline of Teva’s business plan for the next few years. Here are the key elements, IMO:
1. Position Laquinimod as a worthy candidate to capitalize on the gradual transformation of the MS market from injectable to oral drugs.
2. Settle the Copaxone patent case when NVS/MNTA get FDA approval, averting an at-risk generic launch and thereby retaining exclusivity as long as possible.
3. Never mention Lovenox again (unless absolutely necessary) to avoid further tarnishing of the company’s reputation in the investment community.
4. Continue aggressive dealmaking—including such unorthodox ventures as the recent one with PG—in order to dilute the EPS impact from US genericization of Copaxone.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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